41–50 of 52 posts
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He's right. You can't double count the revenue of your partners. That would be like eBay posting revenue of $300 billion. Or the NYSE posting revenue as all trades executed rather than their commission. Lyft is still under $200 million and is raising at 25x revenue or so.
> is raising at 25x revenue or so. valuation is not equal to annual revenue..its more like the value over the lifetime.
Ah, Uber took money from Google Ventures, that's why Uber is listed as an option in my Google Maps app.
http://economictimes.indiatimes.com/small-biz/startups/ola-r...
Seems like this are days for taxi startups.
http://economictimes.indiatimes.com/small-biz/startups/ola-r...
Seems like this are days for taxi startups.
Ah, Uber took money from Google Ventures, that's why Uber is listed as an option in my Google Maps app.
I can't find the details now, but I'm sure I once saw an API provided by Maps on Android which allows any app to register itself as capable of providing directions or transit information.
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It doesn't sound particularly misleading to me. That's just what "gross" means. Gross is always way, way higher than net. You wouldn't subtract the wholesale cost from the gross income of a retail chain, you wouldn't subtract employee wages from the gross income of a software firm, and you wouldn't subtract contractor payments from Lyft.
That's not quite true. You normally wouldn't refer to Lyft's total proceeds as "revenue", gross or otherwise. Retail stores hold inventory which runs the risk of going unsold. Not true of Lyft. Ebay calls it "gross merchandise sales". PayPal calls it "total payment volume". Google subtracts "TAC" out of its network revenue. Etc. I've seen Uber refer to it as "gross bookings".
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I can't find the details now, but I'm sure I once saw an API provided by Maps on Android which allows any app to register itself as capable of providing directions or transit information.
Including those that are not installed on the device?
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Under generally accepted accounting principles (GAAP), and their European equivalent, IFRS, a company generally cannot include in income payments it receives on behalf of others. Lyft, and Uber, rely on the fiction that they are merely booking apps for drivers, so the fares belong to the driver, and Lyft and Uber are merely entitled to a portion of the fare for providing the booking service. At no time are they/were…
Do Lyft/Uber get to float the money before paying it to drivers? If they get a week of float then it's maybe(?) gross income that they can make quite a lot of money off of before paying out drivers.
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> is raising at 25x revenue or so. valuation is not equal to annual revenue..its more like the value over the lifetime.
So 25 years at current annual revenue? :)